Selected stock price target news of the day - April 9th, 2024

By: Matthew Otto

Byrna Technologies Reports Performance for Q1 2024, Driven by Transformative Advertising Strategy

Byrna Technologies has reported financial results for the fiscal first quarter ended February 29, 2024. With net revenue surging to $16.7 million, marking a 98% increase from the same period in the previous year. This growth was primarily driven by a transformative shift in advertising strategy, resulting in a $8.3 million increase in direct-to-customer revenues compared to the prior year period.

Additionally, Byrna Technologies achieved a gross profit of $9.6 million, representing 58% of net revenue, and reported a quarter with net income totaling $17,000, an improvement from the previous year’s net loss of approximately $2.2 million.

Furthermore, Byrna’s operating expenses stood at $9.8 million for the quarter. Also maintained a strong balance sheet with cash and cash equivalents totaling $24.2 million, while effectively managing inventory levels at $12.1 million.

Analysts Maintain Buy Ratings, Adjust Price Targets Upward

Ladenburg Thalmann analyst Jon Hickman maintained a Buy rating and raised the price target from $12.75 to $16.25.
B. Riley Securities analyst Jeff Van Sinderen reiterated a Buy rating yet increased the price target from $14 to $17.

Which Analyst has the best track record to show on BYRN?

Analyst Jeff Van Sinderen (B. RILEY) currently has the highest performing score on BYRN with 3/10 (30%) price target fulfillment ratio. His price targets carry an average of $2.03 (13.56%) potential upside. Byrna Technologies stock price reaches these price targets on average within 108 days.

Norfolk Southern Settles Ohio Derailment Lawsuits, Reports Preliminary Q1 Results

Norfolk Southern Corporation has reached a resolution, agreeing to pay $600 million to settle class-action lawsuits linked to a train derailment in East Palestine, Ohio, in February 2023. The derailment resulted in the release of vinyl chloride into the environment. Norfolk Southern emphasized that affected individuals and businesses will have access to this substantial compensation, which can be allocated for various purposes, including healthcare needs, property restoration, and compensation for business losses. Notably, individuals residing within a 10-mile radius of the derailment site may opt for additional compensation for personal injuries sustained from the incident.

On the other hand, Norfolk Southern also unveiled its preliminary first-quarter financial results. Per-share earnings stood at 23 cents, with railway operating revenue reaching approximately $3 billion. However, these figures reflect the impact of the $600 million settlement and other associated charges, which significantly reduced per-share earnings by $2.26. The company is set to disclose the complete first-quarter results on April 24.

Analysts’ Outlook: Positive Ratings and Price Target Upgrades

JP Morgan analyst Brian Ossenbeck maintained an Overweight rating yet raised the price target from $240 to $275.
Jefferies analyst Stephanie Moore initiated coverage with a Buy rating and a Price Target of $300.

Which Analyst has the best track record to show on NSC?

Analyst Walter Spracklin (RBC) currently has the highest performing score on NSC with 16/17 (94.12%) price target fulfillment ratio. His price targets carry an average of $-30.04 (-12.67%) potential downside. Norfolk Southern Corporation stock price reaches these price targets on average within 63 days.

Apple Faces EU Scrutiny Over In-App Purchase Proposal Amid Antitrust Concerns

Apple is under the regulatory microscope once again as EU antitrust regulators review the latest proposal regarding in-app purchases. The European Commission is examining whether Apple’s offer aligns with their order. This is to allow Spotify and other music streaming services to inform users about alternative payment options beyond the confines of Apple’s App Store.

With a $2 billion fine levied against Apple just last month, the company faces the looming threat of antitrust charges and further financial penalties if its proposal falls short of satisfying EU competition enforcers. Under Apple’s proposal, digital purchases made through external links would incur a staggering 27% fee to the Cupertino-based company, including subsequent auto-renewing subscriptions, potentially reshaping the landscape of in-app transactions within the EU market.

Furthermore, as the EU scrutinizes Apple’s compliance with its directives, concerns linger over the implications of the rules for its App Store and its adherence to the Digital Markets Act. The Commission is investigating whether Apple’s policies and charges could impede developers’ abilities to freely communicate and promote their offerings.

Analysts Contrasting Recommendations and Price Targets

Wedbush analyst Daniel Ives reiterated an Outperform rating and a $250 price target.
DZ Bank analyst Ingo Wermann downgraded from Buy to Hold and announced a $180 price target.

Which Analyst has the best track record to show on AAPL?

Analyst David Vogt (UBS) currently has the highest performing score on AAPL with 31/32 (96.88%) price target fulfillment ratio. His price targets carry an average of $19.15 (11.21%) potential upside. Apple stock price reaches these price targets on average within 149 days.